India will Become Auto Tech Provider To Developing World: Maruthi Chairman By CIOTechOutlook Team

India will Become Auto Tech Provider To Developing World: Maruthi Chairman

CIOTechOutlook Team | Monday, 29 January 2024, 03:38 IST

India's vehicle industry will drive its assembling development and assume a major part in drawing in speculations and flourishing, Maruti Suzuki executive R.C. Bhargava said, adding the nation will turn into a supplier of auto innovation to a significant part of the creating scene. Bhargava stated that India's manufacturing industry has not yet become globally competitive, despite the geopolitical advantages it receives from global diversification policies.

“Today, India is the third largest car market in the world. I see the Indian car market growing, and we are the only large country which has potential to grow substantially over the coming years. I see India becoming a major exporter of cars and auto components, which are already at over $20 billion. I think in many ways, we will become the developers and providers of technology to a lot of the developing world in the automobile industry," Bhargava said in an interview.

“The car industry will drive manufacturing growth in India, and I see a big role for the car industry going forward because among all the manufacturing sectors; I believe the automobile industry is ahead of everybody else. It is the only area where all the major global manufacturers have invested in India and I can’t think of another manufacturing sector, where there’s so much of foreign interest and foreign actual investment from all the biggest players of the world," he said.

However, Bhargava, a former civil servant, warns that the Indian manufacturing sector needs to improve performance in the sector, and that public enterprises in particular need to achieve high levels of productivity and competitiveness.